APEC Leaders` summit was held in Peru
The Asia-Pacific Economic Cooperation heads of state and government meeting under the Peruvian presidency was held on November 20, 2016. Russian President Vladimir Putin leaded the official delegation of the country.
The presidency theme was “Quality Growth and Human Development” with focus on the following thematic priorities: Regional Economic Integration and Quality Growth; Enhancing the Regional Food Market; Towards the Modernization of Micro, Small and Medium-sized Enterprises (MSMEs) in the Asia-Pacific; and Developing Human Capital.
During the meeting the APEC Leaders discussed the situation in the global economy, integration processes in the Asia-Pacific region and establishing an Asia-Pacific free trade zone. Food security, support for small and medium-sized businesses, and expanding cooperation in education were also discussed.
The summit concluded with the joint Declaration adoption (in Russian, in English).
In the Declaration the APEC Leaders reaffirmed their commitment to keep markets open and to fight against all forms of protectionism and agreed to extend a standstill commitment until the end of 2020. They also welcomed the progress made by economies in notifying their acceptance of the WTO Trade Facilitation Agreement (TFA) and called upon the remaining APEC economies as well as other WTO members to make their utmost efforts to submit their instruments of acceptance of the TFA by the end of the year.
The participants of the summit reiterated their commitment to the eventual realization of the Free Trade Area of the Asia Pacific (FTAAP) and adopted the Lima Declaration on FTAAP (annexed to this Declaration).
The APEC Leaders acknowledged that the services sector is a major contributor to productivity and growth within APEC so improved competitiveness in services is needed. They therefore endorsed the APEC Services Competitiveness Roadmap (annexed to this Declaration).
The APEC Leaders recognized that innovation is a key driver of quality growth. In this regard, they encouraged efforts “to identify new growth engines and embrace the opportunities brought forth by sectors such as the Internet and Digital Economy”.
As in their previous Declarations the Leaders expressed their support to micro-, small and medium enterprises (MSMEs) development and their integration in the Global Value Chains (GVCs).
A special focus in the Declaration was made to effective economic, financial and social inclusion of women, elderly etc.
In the Declaration the Leaders welcomed the contributions of the APEC Business Advisory Council (ABAC) to their work as well as from the Pacific Economic Cooperation Council (PECC), international and regional organizations, the private sector and academia.
Starting from December 1, 2016 Viet Nam will host the APEC.
Press-release at the President of the Russian Federation official web-site